Hello,
I still haven't received an answer to my question. How can I enter currency exchange losses, that I received converting dollars to another currency?
Is it considered as ordinary income and is non-taxable/non-deductible or can I treat it as a capital gain or loss?
I entered this information using step-by-step and generating a 1099-B. I managed that Schedule D+8949 were generated.
I gave in the data for 4 transactions with type inherit, but noticed that it should probably be a type short term and entered the dates acquired. I did this change over Step-by-Step, but it still shows up long term. Does it make no difference. The 1099-B wks. is generated correctly. But with no Dates. The 8949 has only the proceeds date.
What is the correct way to navigate? I am probably doing something wrong. The input screens are not very clear.
Thanks for any help.
